Romano Brothers AND Company Boosts Stock Holdings in Energy Transfer LP (NYSE:ET)

Romano Brothers AND Company boosted its stake in Energy Transfer LP (NYSE:ET) by 46.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,482 shares of the pipeline company’s stock after purchasing an additional 10,343 shares during the quarter. Romano Brothers AND Company’s holdings in Energy Transfer were worth $511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. NBC Securities Inc. boosted its stake in Energy Transfer by 4.3% during the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after buying an additional 2,326 shares during the last quarter. Mutual Advisors LLC grew its holdings in shares of Energy Transfer by 112.9% in the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after purchasing an additional 77,938 shares in the last quarter. US Bancorp DE increased its position in Energy Transfer by 95.8% in the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after purchasing an additional 71,386 shares during the last quarter. Savant Capital LLC raised its stake in Energy Transfer by 19.7% during the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after purchasing an additional 4,340 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after purchasing an additional 513,989 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ET. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Mizuho raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, UBS Group raised their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Stock Performance

ET stock opened at $16.22 on Friday. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.40. The firm has a market cap of $54.66 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.44 and a beta of 1.63. The business’s fifty day simple moving average is $15.73 and its two-hundred day simple moving average is $15.01. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a $0.317 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.82%. Energy Transfer’s payout ratio is presently 116.51%.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.